9M2018 RAS results

30 October 2018

9M2018 revenues totaled RUB 61,424.5 million (+RUB 9,894.6 million or 19.2%YoY), the increase being impacted by grown revenues from electricity transmission, revenues from sales, as the company became the provider of the last resort in the Sverdlovsk and Chelyabinsk regions on 01.04.2018 and 01.07.2018, respectively, and changes in contractual relations with RGOs in the Chelyabinsk region.
9M 2018 expenses (plus commercial and administrative costs) amounted to RUB 54,496.6 million (+ RUB 8,143.9 million or 17.6% YoY), the rise being affected by increased payments to FSK and other grid operators as well as PoLR-related costs.
9M 2018 net profit of the Company reached RUB 1,080.6 million. A RUB 2,759.6 million YoY decrease was due to the bad debt reserve created to cover the debt of AO Roskommunenergo, PAO Chelyabenergosbyt and OOO NUESK, as they ceased to be providers of the last resort in line with Ministry of Energy enactments.

Table 1. 9M2017 and 2018 highlights of the Company, RUB thousand.

Item

9M2018

9M2017

Total revenues

61,424,502

51,529,919

Total expenses (plus commercial and administrative costs)

54,496,585

46,352,650

Sales profit

6,927,917

5,177,269

Operating margin

11.3%

10.0%

Pre-tax profit

1,416,488

4,880,888

Net income

1,080,554

3,840,198

Net margin

1.8%

7.5%

To view 9M2018 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).

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